RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITY TRANSACTIONS (12 CFR 12)

Forms and Documents

Document Name	Status

No forms / supporting documents in this ICR. Check IC Document Collections.

IC Document Collections

IC ID	Document Title	Status
132728	RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITY TRANSACTIONS (12 CFR 12)	Migrated

ICR Details

OMB Control No: 1557-0142	ICR Reference No: 198705-1557-002
Status: Historical Active	Previous ICR Reference No: 198602-1557-016
Agency/Subagency: TREAS/OCC	Agency Tracking No:
Title: RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITY TRANSACTIONS (12 CFR 12)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 06/22/1987
	Date Received in OIRA: 05/19/1987
Terms of Clearance: APPROVED WITH THE FOLLOWING CONDITIONS: (1) IN THE NEXT SUBMISION OF THIS REQUEST FOR APPROVAL, OCC MUST REESTIMATE THE NUMBER OF NATIONAL BANKS TO COMPORT WITH THE MOST RECENT ESTIMATES, (2) OCC MUST FOLD IN THE BURDEN HOURS FOR THE DISLCOSURE REQUIREMENTS AT SECTION 12.4, WHICH ARE HEREBY ADDED TO THE BURDEN HOURS AS 11,330 HOURS AS A CORRECTION-ERROR, AND (3) OCC MUST INVESTIGATE AND REPORT TO OMB ON THE FEASIBILITY OF RAISING THE TRANSACTION THRESHOLD TO 500 OR 1000 TRANSACTIONS (VERSUS THE CURRENT 200) TO REDUCE RESPONDENT BURDEN. THESE CONDITIONS ARE BEING IMPOSED TO ENSURE THAT THE PACKET ACCURATEL REFLECTS THE BURDEN IMPOSED AND SO THAT ONLY THE MINIMUM BURDEN NECESSARY IS IMPOSED AS REQUIRED BY THE PAPERWORK REDUCTION ACT AND ITS IMPLEMENTING REGULATIONS AT 5 CFR 1320.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/1989	06/30/1989	06/30/1987
Responses	4,079,071	0	4,079,071
Time Burden (Hours)	165,001	0	153,671
Cost Burden (Dollars)	0	0	0

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Abstract: REQUIREMENT PROVIDES RECORD OF INFORMATION RELEVANT TO PURCHASE OR SAL OF SECURITY BY NATIONAL BANK OR NATIONAL BANK TRUST DEPARTMENT FOR A CUSTOMER.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
RECORDKEEPING AND CONFIRMATION REQUIREMENTS FOR SECURITY TRANSACTIONS (12 CFR 12)

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	4,079,071	4,079,071	0	0	0	0
Annual Time Burden (Hours)	165,001	153,671	0	0	11,330	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 05/19/1987

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